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To: D.J.Smyth who wrote (19485)	6/1/1999 5:56:00 PM
From: Mary Baker	Respond to of 41369

Darrell Smith...thank you for that report. Appreciate it! EOM...

To: D.J.Smyth who wrote (19485)	6/2/1999 8:22:00 AM
From: Steeny	Respond to of 41369

Re: <US rate hike-don't bet on it> Darrel, thanks for the link. The slowing stock mkt might make them reconsider as well. I still think they are likely to take 25bps back. When they cut rates in Nov, it was to stem Asia's fall, stop Russian and Chinese devaluation and help save LTCM. Asia and Russia have stabilized(not growing), LTCM long over, China still a slight threat and strong economic data. At the time, the Fed vote was not unanimous(can't remember the count 9-2 I think). IMO, the hawks really want that one back and that will probably be it. There is a general feeling by the hawks that they got suckered by Greeenspan.